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Mixed trend in imported cotton at Chinese ports
01
Dec '11
A mixed trend was witnessed in prices of imported cotton at major Chinese ports on November 29. The price of cotton from Australia and India decreased 1.5-3.5 cents, and the price of Pima cotton fell 6 cents. The price of other varieties of cotton increased slightly.

China's cotton market was dominated by negative factors, in spite of a sign of stability visible at ICE Futures.

As both macro economy and fundamentals continue to put pressures on cotton prices, China's textile mills are currently focusing on procurement of low-cost US and Indian cotton with shipment in medium to long time.

Among cotton grade SM 1-1/8", the US C/A cotton was quoted at 111.00 cents/lb, equivalent to delivery price of 18,474 yuan/ton (sliding duty) at ports.

The US E/MOT cotton was quoted at 100.20 cents/lb, with delivery price of 16,744 yuan/ton at ports.

The price of Australian cotton was quoted at 114.85 cents/lb, and was generally traded at ports with delivery price of 19,071 yuan/ton.

The price of Uzbekistan cotton was quoted at 115.85 cents/lb, equivalent to delivery price of 19,236 yuan/ton.

West African cotton was quoted at 103.50 cents/lb, and was traded at ports at delivery price of 17,272 yuan/ton.

The price of US E/MOT cotton grade M 1-3/32" was quoted at 98.40 cents/lb, equivalent to traded price for delivery of 16,462 yuan/ton.

Fibre2fashion News Desk - China

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